Cohesion Policy, The EU’s Main Investment Policy
Targeting all regions and cities in the EU, the Cohesion Policy was created to support job creation, business competitiveness, economic growth, sustainable development, and improve citizens’ quality of life. To achieve these goals and address diverse development in all EU regions, €392 billion or almost one third of the total EU budget has been set aside for the Cohesion Policy for 2021-2027.
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Cohesion Policy is delivered through specific funds:
The , to invest in the social and economic development of all EU regions and cities. The , to invest in environment and transport in the less prosperous EU countries. The , to support jobs and create a fair and socially inclusive society in EU countries. The to support the regions most affected by the transition towards climate neutrality.
The Cohesion Policy will impact many fields including education, employment, energy, the environment, the single market, research and innovation.
The focus is to finance projects that will contribute to in regions and cities that contribute to:
The Cohesion Policy also provides special care or investment tools for:
Boosting EU Solidarity
The bulk of Cohesion Policy funding is concentrated on in order to help them to catch up and to reduce the economic, social and territorial disparities that still exist in the EU. The alleviates the socio-economic costs triggered by the climate transition, supporting the economic diversification and reconversion of the territories concerned, helping people to adapt in a changing labour market. The effects of the coronavirus pandemic on the economic situation of EU regions is addressed by , the Recovery Assistance for Cohesion and the Territories of Europe.
The EU goal of Economic, Social and Territorial Cohesion is defined in articles 174 to 178 of the
What types of funding are available?
The EU provides funding for a range of projects and programs. Understandably it applies strict rules to ensure control over how funds are used in a transparent and accountable manner.
To Summarize, EU funding comes in many forms:
– partly funded by the EU and partly from other sources – that usually follow public announcements known as calls for proposals subsidies managed by national and regional authorities as forms of financial assistance to support EU policies and programs prizes to winners of contests.
Management of EU Funding
EU funding is managed one of three ways:
Direct funding is managed by the EU and usually grants for specific projects related to EU Policies. You can apply for this type of funding by answering calls for proposals.
Shared Management is funding managed in partnership with national and regional authorities and accounts for around 80% of the EU budget. There are five main funds under the : – regional and urban development – social inclusion and good governance – economic convergence by less developed regions
Indirect funds are managed by national and regional authorities (local councils), not the EU. You can apply for Indirect funding at a national level.
For a complete list of available funding opportunities visit the portal.